Now the company has announced that it will axe 10 percent of its global workforce as a part of a new restructuring plan that will eventually save $200 million in operational expenses for calendar year 2012. AMD also plans to sever some of its contractual obligations to save money.

"Reducing our cost structure and focusing our global workforce on key growth opportunities will strengthen AMD's competitiveness and allow us to aggressively pursue a balanced set of strategic activities designed to accelerate future growth," said Read.

The restructuring plan will also allow AMD to focus more on cloud computing, emerging markets, and low-power systems. The focus on lower power consumption is a key as companies like HP are now looking to low-power ARM architecture for upcoming server products, which could spell trouble for traditional x86 processor manufacturers like AMD and Intel.